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McLaren within 24hrs

I'm pretty sure I said this around Christmas time about McLaren coming in and having a consortium behind him. Well I've heard the same again, who's part of the consortium I do not know, but they are willing to provide funds to strengthen the squad. I presume how this works is if we get promoted they get a certain percentage back on top of what they've invested. Don't know how this lies with FFP at all, but thought I'd pass on what I've been told. Les is/has been dealing with McLaren negotiations and has been for quite some time.

Comment

Do people honestly think TF would get himself another 50 million plus fine ! I actually applaud the club for having the balls to make the right decision at the right time this time. McClaren is a very very very good coach and if we get this right then things are definitely looking up.

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Do people honestly think TF would get himself another 50 million plus fine ! I actually applaud the club for having the balls to make the right decision at the right time this time. McClaren is a very very very good coach and if we get this right then things are definitely looking up.

No, but the truth is, we really don't know anything about the discussions that have taken place with regards to FFP. The hard line interpretation that we fell foul of a few years back has clearly been relaxed, hasn't it?

As I pointed out higher up the thread, Sunderland were allowed to make a substantial write off when their new owners came on board last month. Perhaps we have been offered a similar concession as part of some fresh investment in the club. Not saying that is definitely the case, I'm just saying that we shouldn't write if off as a possibility. It's been speculated in the press a few times recently that McLaren has some wealthy backers looking to purchase a stake in an English club.

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From the last set of accounts Tony's shareholding has plummeted due to 12/24% interest charges on loans which have been converted to increase Ruban's shareholding.

Clearly, Tony has done his money and his remaining shares will be sold before his holding is diluted to zero. The new investors will buy him out and it's taxi for Tony. FFP will calm down once the bad apple has left the building

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Surely a debt write off is a balance sheet item, not income or cost. Its similar to the debt for shares transaction we did, but the authorities wouldn't have it.

Ours, was however in retrospect, so that may have something to do with it.

Depends on how it's done... we wrote off £60m debt (rather than converting it to shares) which meant that it went through the operating statement as exceptional income. This fell foul of ffp rules (unless the club's appeal is successful). More recent conversions to shares are balance sheet transactions (and therefore have no ffp implications.

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I'm pretty sure I said this around Christmas time about McLaren coming in and having a consortium behind him. Well I've heard the same again, who's part of the consortium I do not know, but they are willing to provide funds to strengthen the squad. I presume how this works is if we get promoted they get a certain percentage back on top of what they've invested. Don't know how this lies with FFP at all, but thought I'd pass on what I've been told. Les is/has been dealing with McLaren negotiations and has been for quite some time.

This will be added to your ITK predictions.
Many thanks Marc and good luck.